A six-storey building in central Madrid collapsed while being converted into a hotel, resulting in four fatalities, including three construction workers from Ecuador, Mali, and Guinea-Conakry, and the project architect. Their remains were recovered nearly 15 hours later, while three others were injured. Built in 1965 and marked "unfavourable" in past inspections, the structure retained its facade. Owned by Saudi-based fund RSR and developed by Rehbilita, the renovation was approved in late 2024 with a two-year timeline. Rescue teams deployed drones and sniffer dogs during the operation.Read more

UK house prices rose by 1.3% over the past year to September, marking the slowest annual growth since April 2024, as economic and tax uncertainties weighed on the market, according to Halifax. Prices fell by 0.3% compared with August, contrary to expectations. London recorded a 0.6% rise, while Northern Ireland saw the highest growth at 6.5%. Analysts said high borrowing costs, a slowing jobs market, and speculation about property tax increases were curbing housing demand. Nationwide data showed slightly higher annual growth of 2.2%.Read more

IKEA has acquired U.S.-based logistics technology company Locus, aiming to enhance delivery speed and flexibility as the retailer expands its online presence. The move complements Ingka Group's USD 2.2 billion U.S. investment strategy, even amid higher tariffs on imported furniture. Locus, valued at USD 300 million in 2021, uses artificial intelligence to optimize delivery routes, reducing costs by an estimated EUR 100 million annually. The technology will initially be piloted in the U.S. and UK, improving customer tracking, multiple delivery options, and overall shopping experience.Read more

CapitaLand Ascendas REIT plans to acquire three fully leased industrial and logistics properties in Singapore from Vita Partners for approximately SGD 565.8 million (USD 438 million), as part of its SGD 1.3 billion domestic investment drive this year. The acquisitions, expected to close in early 2026, will raise the value of its Singapore portfolio to around SGD 12.3 billion, representing 68 % of total AUM. The properties are leased to tenants across technology, logistics, and life sciences sectors with a weighted average lease expiry of 5.5 years, delivering a projected net yield of 6.1 % and accretive to DPU.Read more

Home sales in the Greater Toronto Area (GTA) reached an eight-month peak in September, with 5,765 units sold, marking a 2% month-over-month increase and the highest since January. Despite rising sales, home prices softened slightly to CAD 971,500 (USD 695,668), continuing a trend of flat or declining prices since November last year. Year-over-year, sales grew 8.5%, new listings rose 4%, and the price index fell 5.5%. Analysts suggest that recent Bank of Canada rate cuts could ease mortgage payments and encourage further market activity.Read more

Airbus delivered a record 73 aircraft in September, surpassing analyst forecasts of 69-70 and marking its strongest September performance ever, according to industry sources. The figure, up from 50 a year earlier, signals easing delays in engine supplies and brings total deliveries for January-September to 507 jets, a 2% increase year-on-year. However, Airbus must now achieve a record 313 deliveries in Q4-16% higher than last year's final quarter-to meet its full-year target of 820 aircraft, analysts said. The boost was driven largely by improved engine availability from suppliers like CFM International. Airbus is also nearing a milestone, with total A320 deliveries expected to rival Boeing's 737 as the world's most-sold jet.Read more

Britain's government announced plans to streamline the home-buying process to boost the property market, aiming to cut transaction times by about four weeks from the current five-month average. The reforms would require key search and survey information to be published before properties are listed, potentially introducing binding contracts for buyers and sellers and halving the number of failed transactions. The Royal Institution of Chartered Surveyors welcomed the move, noting the current system's high costs and inefficiency. As part of its housing push, the government aims to build 1.5 million homes during the current parliament and estimates the reforms could save first-time buyers about £710 ($957). A nationwide consultation will follow.Read more

Spirit Airlines plans to reduce its fleet by nearly 100 aircraft-almost half of its 214-plane lineup-as part of a major bankruptcy restructuring, CFO Fred Cromer told creditors on Friday. The carrier, which filed for Chapter 11 protection for the second time this year, is cutting unprofitable routes and operations to stabilise its finances. Spirit has sought court approval to reject 87 additional aircraft leases, while continuing talks with lessors ahead of an October 27 deadline. Cromer said the move could save "hundreds of millions of dollars" and create a leaner, stronger airline. The low-cost carrier blames industry overcapacity, weak demand, and fare pressure for its financial distress.Read more

QatarEnergy has signed an agreement with Shell to acquire a 27% stake in the North Cleopatra offshore block in Egypt's Herodotus basin, further expanding its global exploration portfolio. The deal, pending approval from Egyptian authorities, will see Shell retain a 36% interest as operator, while Chevron holds 27% and Tharwa Petroleum Company 10%. The block spans over 3,400 sq km in the eastern Mediterranean, with water depths reaching up to 2,600 metres. The acquisition adds to QatarEnergy's growing presence in key international oil and gas regions, including recent ventures in Guyana, Lebanon, Namibia, and South Africa, reinforcing its global expansion strategy.Read more

Rescue operations are underway on Tibet's eastern slope of Mount Everest, where nearly 1,000 people have been stranded after a severe blizzard blocked mountain access roads, according to Chinese state media. Hundreds of villagers and rescue teams have been mobilised to clear snow from the high-altitude area, which lies at over 4,900 metres (16,000 feet), Jimu News reported. Some tourists have already been evacuated, while ticket sales and entry to the Everest Scenic Area have been suspended since Saturday. The heavy snowfall began Friday evening and persisted through Saturday. Meanwhile, across the border in Nepal, at least 47 people have died due to flash floods and heavy rains.Read more